The above Regulations came into force on 15 February 2010 and restore to qualifying non-UK pension schemes the protection from inheritance tax charges that was lost after A-Day.
The Inheritance Tax Act 1984 provides tax exemptions, which before 6 April 2006 applied to both non-UK and UK pension schemes and section 615(3) schemes, but after that date the benefit was removed from pension schemes established overseas that were not registered in the UK.
This change was unintentional; therefore the Regulations will have retrospective effect from 6 April 2006.
View the Regulations. (pdf 47.17KB)